Given the high risk of universal and variable life policies, their market share has steadily declined
Indicate whether the statement is true or false.
FALSE
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Barnhill, Inc uses straight-line depreciation for its equipment with an estimated useful life of 10 years and zero residual value. The CEO points out that the equipment will last much longer than 10 years, perhaps up to 20 years. What is the impact on earnings per share and net income of depreciating equipment over 20 years rather than 10 years?
a. Both earnings per share and net income will decrease. b. Both earnings per share and net income will increase. c. Earnings per share will decrease and net income will increase. d. Earnings per share will increase and net income will decrease.
According to the research conducted by Jennifer Aaker, one of the five traits of a product's brand personality is its physical structure
Indicate whether the statement is true or false
When forming an opinion on special purpose financial statements, which of the following items does the auditor not need to evaluate?
a. Whether the financial statements adequately describe the applicable financial reporting framework. b. Whether the financial statements have the appropriate title. c. Whether the financial statements include a summary of significant accounting policies. d. Whether the financial statements differ in GAAS presentation.
Torino Company has 2200 shares of $50 par value, 7.0% cumulative and nonparticipating preferred stock and 22,000 shares of $10 par value common stock outstanding. The company paid total cash dividends of $7500 in its first year of operation. The cash dividend that must be paid to preferred stockholders in the second year before any dividend is paid to common stockholders is:
A. $200. B. $7500. C. $15,400. D. $7700. E. $7900.